September 2nd, 2024
10 signs you’re a top tier Property Manager
Property Management
Property Management
The property management industry is demanding. Juggling the needs of Tenants, Owners and a high volume of properties, can leave Property Managers feeling overwhelmed, frustrated and burned out. This can significantly impact their mental and emotional well-being. According to Beyond Blue, mental health concerns are prevalent in Australia, with nearly one in five individuals experiencing poor mental health each year. In many instances, poor mental health can be attributed to workplace pressures. While significant strides have been made in improving workplace mental health in Australia, there remains significant room for further progress.
The Australian economy faces a substantial financial strain due to poor mental health, with the Australian Government Productivity Commission estimating annual costs between a staggering $12.2 billion and $22.5 billion.
This blog post will explore some common mental health challenges faced by Property Managers in the workplace and offer practical strategies for proactive self-care throughout the year.
Burnout is a serious state of emotional, physical and mental exhaustion that occurs when individuals are subjected to prolonged or excessive stress. A staggering 61% of Australian workers report experiencing burnout, significantly higher than the global average of 48%. This alarming trend has serious consequences, with burnout now contributing to 40% of employee resignations. Causes of burnout can range from improper work-life balance to unclear job expectations. It’s more than just feeling tired; burnout manifests as a complex syndrome characterised by feelings of cynicism, detachment and a reduced sense of accomplishment.
Individuals experiencing burnout may feel emotionally drained, lacking motivation and struggling to find joy in activities they once enjoyed. They may also experience physical symptoms such as fatigue, insomnia and changes in appetite. Burnout is a significant concern for Property Managers, often stemming from the constant pressure of juggling demanding tasks, dealing with challenging tenant interactions and navigating unforeseen emergencies.
In our previous blog post, we explore some practical strategies that property management companies can implement to promote employee well-being.
Anxiety is a pervasive feeling of worry, nervousness or unease, often triggered by concerns about imminent events or uncertain outcomes. This can manifest in various ways, such as racing thoughts, difficulty concentrating, restlessness and even physical symptoms like muscle tension and sleep disturbances. A startling statistic reveals that one in five Australians have taken time off work due to feeling stressed or anxious within the past year. This figure skyrockets to 46% among those who believe their workplace is not mentally healthy, highlighting the critical role of workplace culture in employee well-being. In the property management context, anxiety can arise from concerns about meeting deadlines, dealing with challenging requests or maintaining property standards.
Frustration is a normal human emotion, often arising from perceived obstacles or unmet expectations. When these feelings become chronic, they can significantly impact our mood, productivity and overall well-being.
Common symptoms of chronic frustration include irritability, impatience, difficulty concentrating and increased sensitivity to perceived slights. Causes can also range from feeling a lack of control to unmet expectations. Internal factors, such as perfectionism, unrealistic expectations and a lack of assertiveness, can also contribute significantly. Mental health frustration among young workers (18-34) has been deteriorating over the last decade. In the demanding field of property management, numerous factors can contribute to feelings of frustration. Navigating complex lease agreements, unforeseen maintenance problems and resolving disputes can be emotionally draining and lead to feelings of powerlessness and frustration.
Stress is a natural human response to challenges and demands. While short-term stress can be motivating, chronic stress can have detrimental effects on both physical and mental health. Common physical symptoms of stress include headaches, muscle tension, sleep disturbances, fatigue and digestive issues. Mentally, chronic stress can manifest as irritability, anxiety, difficulty concentrating and changes in mood, such as feeling overwhelmed, restless or irritable.
A variety of causes can contribute to stress such as work demands, life changes, relationship issues and financial concerns. A concerning 81% of Australian workers silently grapple with stress and burnout, emphasising the urgent need for workplaces to prioritise employee mental health. In property management, sources of chronic stress include tight deadlines, demanding tenants and the constant pressure of maintaining property standards. The unpredictable nature of the industry, with potential emergencies and legal challenges, further exacerbates stress levels.
In addition to the strategies mentioned above, establishing a regular morning routine can be a powerful tool for managing stress and improving overall well-being.
Imposter syndrome is a psychological phenomenon where individuals doubt their accomplishments and skills, despite evidence of their success. It manifests as persistent feelings of inadequacy, self-doubt and the belief that one’s success is undeserved or due to luck rather than genuine ability. Individuals experiencing Imposter Syndrome may attribute their achievements to external factors, minimise their accomplishments and fear being “found out” as a fraud. They may also experience anxiety, perfectionism and a strong need for external validation.
The general causes of imposter syndrome are high standards and expectations of yourself, lack of recognition and comparing yourself to others. According to SEEK research, imposter syndrome is a common experience, affecting nearly half of Australians. With 55% of women and 47% of men experiencing these feelings of inadequacy, it’s clear that imposter syndrome is a significant challenge for many in the workplace.
By implementing these strategies and prioritising self-care, Property Managers can improve their mental well-being, increase their resilience and enhance their overall job satisfaction. Remember, taking care of yourself is not selfish; it’s essential for long-term health and success.